Planned Giving: Leaving a Lasting Legacy at Powell Gardens

If you’re reading this blog post, we hope you understand the importance of Powell Gardens’ mission. As Kansas City’s botanical garden, we work each day to inspire an appreciation for the natural world in our community. Our nonprofit botanical garden provides education, botanical conservation, rich and unique outdoor experiences, and our signature Midwest beauty.  

Powell Gardens’ work is made possible with the strong support of members and donors. Did you know there’s a way to ensure that your support continues for generations to come? Planned giving offers a meaningful opportunity to leave a legacy that reflects your values and ensures Powell Gardens remains a vibrant part of the community in the future. 

What is Planned Giving? 

Planned giving refers to charitable donations made as part of a donor’s overall estate or financial planning. These gifts are designed to support the organizations and causes you care about, like Powell Gardens, while also providing potential financial benefits to you and your family. Planned giving reflects your values and ensures your generosity will have a lasting impact. 

Learn More About Planned Giving

Why Should You Support Powell Gardens? 

We hope that our mission aligns with your values and that you feel excited by what Powell Gardens is and will become. By choosing to support Powell Gardens through planned giving, you are helping to ensure that future generations can continue to explore, learn, and be inspired by plants. Your planned gift will preserve the unique Midwest beauty of our gardens and support ongoing education and conservation efforts. 

Planned Giving Options 

There are several ways to support Powell Gardens through planned giving, depending on your financial situation and estate planning goals. Here are some of the most common options. 

Wills and Bequests 

One of the simplest ways to leave a legacy is by making a bequest in your will or trust. This allows you to designate a gift to Powell Gardens as part of your estate plan. 

 A bequest can:  

1. Create a lasting legacy: Your gift will help Powell Gardens continue its mission long after you’re gone. 
2. Reduce tax burdens on your family: A bequest can reduce the taxes your family may owe on your estate. 
3. Potential estate tax savings: Depending on the size of your estate, making a charitable bequest could reduce the taxable amount. 

How do you make a bequest?   

Making a bequest is straightforward. With the help of an advisor, you can include language in your will or trust specifying a gift to Powell Gardens. Your options include: 

1. Gifting a specific dollar amount or asset 
2. Gifting a percentage of your estate 
3. Gifting from the balance or residue of your estate 
4. Designating Powell Gardens as a beneficiary of specific assets 

IRA Charitable Rollover 

If you’re 70½ or older, an IRA charitable rollover may be a tax-efficient way to make a significant contribution to Powell Gardens. By transferring funds directly from your IRA to our organization, you can help further our mission and potentially reduce your taxable income. 

 Benefits of an IRA Charitable Rollover: 

1. Avoid taxes on transfers up to $105,000 from your IRA 
2. Satisfy your required minimum distribution (RMD) for the year 
3. Reduce your taxable income even if you do not itemize deductions 
4. Make a gift not subject to deduction limits on charitable gifts 

How Does an IRA Charitable Rollover Work?  

Contact your IRA plan administrator to request a transfer from your IRA to Powell Gardens. Your IRA funds will be directly transferred to help us continue our work. Note that IRA charitable rollover gifts do not qualify for a charitable deduction, but they do reduce taxable income. 

Charitable Remainder Unitrust 

Another option for supporting Powell Gardens is through a Charitable Remainder Unitrust (CRUT), which allows you to donate assets while still receiving income for life or a set period of time. This type of trust is especially beneficial if you have appreciated assets, like stocks or property, as it avoids capital gains taxes on the sale of these assets. 

Benefits of a Charitable Remainder Unitrust: 

1. Receive income for life or for up to 20 years 
2. Avoid capital gains taxes on appreciated assets 
3. Receive an immediate charitable income tax deduction 
4. Leave a future legacy gift to Powell Gardens 

 How Does a Charitable Remainder Unitrust Work? 

You transfer cash or appreciated assets to fund the trust. The trust then sells the assets tax-free and invests them to provide income to you or other beneficiaries for a specified period. After the trust’s term, the remaining funds support Powell Gardens. 

Planned Giving Best Practices: Consult an Advisor 

While this blog post is meant to be informational, it’s important to consult with a professional advisor to determine the best planned giving strategy for your specific situation. An advisor can help you understand how your gift will affect your estate and finances, ensuring that you maximize the benefits for both your family and Powell Gardens. 

Create a Legacy That Reflects Your Values 

Planned giving is more than just a financial decision—it’s a way to give back to a cause you care deeply about. When you support Powell Gardens in this way, you create a lasting legacy that will inspire future generations of nature lovers and philanthropists. 

 If you’re interested in exploring planned giving options or would like more information, please contact us at development@powellgardens.org or visit powellgardenslegacy.org. (You can reach Sharon Ramsey, Director of Development, directly at sramsey@powellgardens.org or 816.683.4830.) We’d love to work with you to ensure that your gift makes the impact you envision. 

Learn More About Planned Giving